This bill amends several sections of the Nebraska Revised Statutes to redefine the term "grain dealer" and update the licensing requirements and fees associated with grain dealers under the Grain Dealer Act. The definition of "grain dealer" is expanded to include any person or entity that buys grain from producers for resale or acts as an agent for buyers or sellers. The bill also specifies that grain dealers must pay an annual licensing fee that cannot exceed $1,500, and it introduces new requirements for financial statements, including the need for a reviewed or audited fiscal year-end financial statement prepared by a certified public accounting firm.

Additionally, the bill modifies the security requirements for grain dealers, establishing a minimum security amount of $35,000 and a maximum of $1 million, which must be maintained for the benefit of producers filing claims against the dealer. It also clarifies the conditions under which sellers can claim against the dealer's security and repeals the original section 75-905, which is no longer deemed necessary. Overall, the bill aims to enhance the regulatory framework governing grain dealers in Nebraska, ensuring better protection for producers and clearer operational guidelines for dealers.

Statutes affected:
Introduced: 75-905, 75-903, 75-904